Franking plan violates fair go tax principles: retirees

Original article by Tim Boyd
The Australian Financial Review – Page: 5 : 5-Feb-19

Retiree Bernard Shea has told a parliamentary committee that Labor’s proposal to abolish cash refunds for excess dividend imputation credits is in violation of "the pillars and basic principles of taxation". The inquiry was being held at the Merimbula RSL on the New South Wales south coast, with most submissions coming from retirees who are against the changes. Retiree Jon Gaul claimed that he would lose $6,000 a year if Labor’s policy is enacted, while Shea said the policy discriminates against self-managed superannuation funds.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN TAXATION OFFICE, INSTITUTE OF PUBLIC ACCOUNTANTS LIMITED

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